1. June 2: Buys equipment on account for $2,190. A firm has a long-run total cost function: LTC(Q)=Q320Q2+220Q\operatorname{LTC}(Q)=Q^3-20 Q^2+220 Q Darlene Cook Company engaged in the following transactions during the month of July: July 1 Acquired land for $10,000. Received $1,400 cash for services performed during July. Purchased equipment at a cost of $62,000. 2. Provided services of $15,600 on account c. Purchased supp. a. The cash inflows or receipts increase the cash balance while the cash outflows or payments decrease the cash balance. The following transactions occurred during July: Received $1,050 cash for services provided to a customer during July. If payment is made on June 23, how much cash is received? Billed customers for services performed. note. Received $1,050 cash for services performed during July. 4. 1 Purchased used truck for $11,683, paying $2,162 cash and the balance o, Journalize the following selected transactions for January : 1. 2) Borrowed $520 from a bank. Received $400 from a customer as payment for services The customer has been billed and will pay, The McKiernan Company made cash sales of services of $5,000 and credit sales of services of $4,200 during the month of July. $300,000 down payment now and $100,000 per year for, The following information revealed the transactions of XYZ Pte Ltd for the month of June: Date Transactions Units Purchased (Sold) Unit Cost June 1 Beginning Inventory 300 $10.00 June 3 Purchase 300 $11.00 June 8 Sale (200) June 16 Purchase 400 $11.50 Ju, Action Real Estate received a check for $18,000 on July 1, which represents a 6 month advance payment of rent on a building it rents to a client. What amount is received as payment in full on July 24? 2. 3) Received $195 from customers for services to b, Entries for Receipt and Dishonor of Note Receivable : Journalize the following transaction of Sanchez Productions. management in ZARA and how it plays a significant role in t Provided services to customers on account, $95,000 3. Purchased land for $12,000, signing a note payable for the full amount. c. Billed customers for services rendered, $6,000. Issued common stock for $5,600 cash. What amount is received as payment in full on July 24? Purchased office supplies on account, $5,800. 3. 2. Provided services for cash, $22,000. 3. Action Rea, The following transactions occur for Badger Biking Company during the month of June: a. A summary of cash flows for July follows. Billed customers $600 fo, Transactions made by Huddleston Co. for the month of March are shown below. For example, the company has delivered the goods today but payment will be received the next week, revenue will already be recognized in this transaction. 3. 2003-2023 Chegg Inc. All rights reserved. (Credit Wages Payable.) The following transactions occurred for Lambert Engineering: July 2 Received $8,000 contribution from Rob Lambert in exchange for common stock July 4 Paid utilities to the expense of $430 Journalize the transactions of Lambert Engineering. The following transactions apply to Baker Co. for 2010, its first year of operations. Performed services and left a bill $4,200. Hired a legal assistant to work part-time for $1,500 per month. Prepare the general journal entry to record this transaction. Prepare a cash budget for July. Received $1.250 cash from a customer for services to be rendered next year. The following transactions occurred during July: 1. 3. Received $900 cash for services provided to a customer during July. Cash balance per bank, July 31, $7,843. June 14 Split the common shares 2 for 1 when the common shares were trading at $30 per share. Heidi Jara opened Jara?s Cleaning Service on July 1, 2014. Provided services for $5,500 cash. 8 Billed customers for $3,000. Billed $3,950 to customers for services performed on the account in July. Loaned $15.000 to Horne C, Selected transactions for Evergreen Lawn Care Company are listed below. the Cash account? Provided services to a customer on credit, $375. 2. Record the journal entries associated with these three transactions. Map all of the recorded journal entries to T-Accounts or Ledger-Accounts. 2) Billed customers $695 for services provided in May. It is followed by a return of $50 on June 16. i want to log off of my account how do i do that?? a. |1 July 2018|Retired a piece of machinery that was purchased on 1 July 2008. b.Received $2,850 cash investment from Barbara Hanson, the owner of the business. Received $1,250 cash for services performed during July. c. Received $750 from a customer in partial payment of his account receivable, which arose from sales in June. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. 1. The rest were either equity, liability or revenue for a period other than July. Journal entry for fees earned. Issued $16,870 in direct materials to the production department. Provided $13,600 of services on account. On June 5, Joe's Market sold $1,000 of goods on credit with terms of 2/10, n/30. It allows its clients 90 days to pay for services received. Received a 140,000,12. Received $5,900 cash from the issuance of common stock to owners. 3. increase to the Cash account? 2. d. Provided services to a customer on credit, $375. Hence, it is necessary to provide such amounts as negative figures in net income column. Received $5,350 cash from the issuance of common stock to owners. 4. The articles of incorpora, The following transactions occurred in D&S, the pharmacy chain during June of the current year: June 6 D&S purchased $12,000 of merchandise from Belvidere on credit terms of 3/10, n/30, FOB shipping point. Received $14,000 cash from a previously billed customer for services performed. Received $7,100 cash from the issuance of common stock to owners. 1. June 1 Issues common stock to investors in exchange for $5,890 cash. A $400 credit to Prepaid Insurance and an$800 debit to Interest Payable. What is the amount of the cash paid on July 8? $3,392 b. 3. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Collected $220 cash from customers for services performed in August. Bateer Company established a $50 petty cash fund on July 1. b. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. Borrowed. The following transactions occurred during July: Received $900 cash for services provided to a customer during July. July 17 Purchased supplies costing $4,700 on account. Borrowed $4,000 cash f, The following transactions apply to Baker Co. for 2010, its first year of operations. 5. July 1 Received $3,600 cash in advance of performing work for Vivian Solana July 6 Received $6,400 cash in advance of performing work for Iris Haru July 12 Completed the job f. Kristin Malone opened Kristin's Maids Cleaning Service on July 1, 2017. The following transactions occurred during July: Received $970 cash for services provided to a customer during July. During July, the following transactions were complete: July 1 Issued 13,927 shares of common stock for $13,927 cash. Record all financial transactions of a company's operating year/month using the method of Journal Entries. On July 7, it returned $320 worth of merchandise. A company received $1,250 in cash from a customer for services previously performed. iii. Received $68,000 cash for providing services to customers. Provided $13,600 of services on account. 2. Paid monthly rent. A credit sale of $3,600 is made on July 15, terms 3/10, n/30, on which a return of $100 is granted on July 18. Borrowed $80 from, The following summarized transactions for Kim's Company are typical of those that occurred in July 2010 (dollars are in millions). A company provided services to customers and received cash of $5,700. During the month of June, the following transactions were completed: June 1 Invested $15,000 cash in the business June 2 Purchased a ute for $10. What is the required journal entry to record the customer's payment on July 2? 3. Josh collected $4,185 from customers for services related to videos created in July. The folowing transactions occurred in January: Jan. 2 Invested $15,000 cash in the business in exchange for common stock. A company purchased $3,600 of merchandise on July 5 with terms of 2/10, n/30. Aug 5: Performed services on credit, $8,000 Aug 10: Performed services for cash, $7,000 Aug 12: Paid expenses in cash, $2,000 Aug 14: Collected on account, $4,000 Aug 19: Incurred e. Petras Company engaged in the following transactions during2012, its first year in operations: (Assume all transactionsare cash transactions) 1) Acquired $1,050 cash from the issue of common stock. The following transactions occurred during July: 1. The company performed $20,000 of services for customers on account. A company purchased $1, 800 of merchandise on July 5 with terms 2/10, n/30. 2. 4. Horton Manufacturing had $250,000 in surplus cash. Purchased office supplies on account, $5,800. As a Return of the damaged goods on July 12, 2011. c. Payment on July 15, 2011. On November 6, Barrow Company performed services for a customer and received $2,000 cash. Feb. 1 Declareda $3 cash dividend per share to stodkholders of record on February 15, payable March. Borrowed $6,000 from the bank by signing a promissory note. b. FOB shipping point. 3. Toggle navigation Received $500,000 in Cash from investors in exchange for stock in the company 2. Bought $8,986 of merchandise, $3,410 for cash, and $5,576 on account. The following transactions occurred during July: 1. -Services were provided. On August 30, the customer returned 1/4 of the inventory back for a cash refund. What accounts are debited and credited to record this transaction? Under the cash basis of accounting, revenue should be recorded on: Horton Enterprises performed services on July 30, billed the customer on August 3, and received payment on September 7. Received $93,000 from a group of investors. c. Received $750 from a customer in partial payment of his account receivable, which arose from sales in June. Provided services to a . 2. For a compound transaction, July 12. 2003-2023 Chegg Inc. All rights reserved. 1. Provided services to a customer on credit, $375. 2. 4. $637 c. $650 d $686, The following information describes transactions for Morgenstern Advertising Company during July: a. 2. Received $900 cash for services provided to a customer during July. Increase in cash $3,500 and decrease in retained earnings $3, The following selected transactions were completed during January of the current year: - Billed customers for fees earned $41,730. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. iv. 2. 6. 3. How would Camden record this transaction? the following transactions occur for badger biking company jingnuo water fountain instructions hollywood hillbillies cast salaries . What was the amount of revenue for July? It should show expected cash receipts and cash disbursements for the month and the cash balance expected on July 31. Received $1,030 cash for services provided to a customer during July. On July 7, it returned $410 worth of merchandise. Total cash payments for July are $570,030. 2. 2. What is the main reason that interviews and questionnaires are not completely accurate? Equipment of $2,500. (The company uses th, The following events pertain to Super Cleaning Company: 1. 3 is a revenue that have already been reported in June, only cash collection is involved in July, 3) Transaction no. On June 5, Joe's Market sold $1,000 of goods on credit with terms of 2/10, n/30. Debit Utilities Expense for $300 and credit Accounts Payable for $300. b. 2. $3,440. 1.The company provided $21,160 of services for customers on account. Expenses of $73,600 were pa, Transactions for Sheridan Company for the month of June are presented below. 5 is an unearned income. Cash balance per bank statement ? The following transactions occurred during July: 1. Accrual basis of accounting is an accounting method where income and expenses are recorded at the time they are received/incurred instead of received/paid. II. The following inventory transactions occurred during June. Multiple Choice $1,080 $1,635. Billed customers for fees earned, $73, 900. A company received $3,000 cash from clients for services provided. To determine the cash balance, a company has to adjust to the beginning cash balance, the cash inflows, and cash outflows during the period. Billed $3,500 to customers for services performed on account See accrual vs. cash basis accounting examples, and identify benefits of the two types of accounting. Issued common stock for $23,500 cash. You can specify conditions of storing and accessing cookies in your browser, The following transactions occurred during July: Received $970 cash for services provided to a customer during July. B) September. June 1: Issues common stock to investors in exchange for $4,840 cash. During July, the following transactions were completed. On July 8, it paid the full amount due. (b) Requisitioned materials at a cost of $111,500, of which $16,700 was for general factory use. Which of the following items would appear on the income statement? 12 The cash sales for the day, according to the cash register records, totaled $12,000. The following selected transactions were completed during August between Summit Co. and Beartooth Co.: |Aug.1|Summit Co. sold merchandise on acco, The following are the transactions for the month of July. 1 Purchased used, A company purchased $1,800 of merchandise on July 5 with terms 2/10 and 1/30. 3. Received $900 cash for services provided to a customer during July. 8 Received cash from cu, During the month of August, Boyce Company had the following transactions: i. The following transactions occurred during March 2021 for the Wainwright Corporation. 2. On July 8, it paid the full amount due. 3. Issued common stock for $6,000 cash. We reviewed their content and use your feedback to keep the quality high. Provided $1,200 of services on account. On July 7, it returned $280 worth of merchandise. What was the balance in the Cash account at the beginning of October? The following transactions occurred during July 1. Silo achieves almost 700,000 transactions per second on a standard TPC-C workload mix on a 32-core machine, as well as near-linear scalability. 5. The legislature adopted the following budget: Estimated revenues and other sources: Property taxes $1,740,000 Sales taxes 1,000,000 Use of fund balance 10,000 Total $2,750,000 Appropriations: General government"salaries $ 420,000 General government . On July 7, it returned $260 worth of merchandise. Received $6,400 cash from the issuance of common stock to owners. 4. in July. 2 Buys equipment on account for $1,100. 9 Paid $1. Learn about what goes on an income statement and its format, including how to prepare, what is shown, and examples. During the year, the following transactions occurred. the following transactions occurred during july: the following transactions occurred during july: iv. Received $820 from a customer in partial payment of his account receivable which arose from sales in June. 2. Paid a mechanic $250 for repair work ca, The following were transactions of BL Enterprises Pte Ltd for the month of June: (i) On 3 June, a walk-in customer paid the company $300 for goods to be collected the next month. On August 1, the company received $2,000 cash for providing services to a customer. 3. Prepare the general journal entry to record this transaction. Dexter invests $10,000 cash in Camden in exchange for its common stock. On July 28, it paid the full amount due. 2 Purchased $800 of office supplies on account. The company owns and operates a wholesale warehouse 1. D&S paid a $200 bill for freight in June 8 D&S re, Transactions for Grover Company for the month of June are presented below. The following transactions occurred during July: 1. 2. Received $1.250 cash from a customer for services to be rendered next year. Performed services for $43,000 cash. Business Advisory; Business Valuation; Corporate Finance; Cash Flow Modelling; M&A Advisory; Venture Capital; Private & Public Partnerships; Owner Supervision And Internal Control; Family Wealth Management; International IPO; $555. c. the assets purchased with cash contributed, Assume that Sallisaw Sideboards, Inc. had a retained earnings balance of $10,000 on April 1, and that the company had the following transactions during April. Selected transactions for Warner Advertising Company, Inc., are listed here. Received $1.080 cash for services provided to a customer during July. Prepare the general journal entry to record this transaction. July 9 Sold $20,000 of accounts receivable to Main Bank. Received $1,200 cash for services performed during July. $3,332. Provided $14,500 of services on account. Purchased $8,500 of equipment, paid $2,550 cash and signed a promissory note for $5,950. We reviewed their content and use your feedback to keep the quality high. Received $2,200 cash investment from Barbara Hanson, the owner of the business. c. Billed customers for services rendered, $6,000. Received $6,400 cash from the issuance of common stock to owners. Received $4,600 cash investment from Bob Johnson, the owner of the business 3. Borrowed $25,000 cash from creditors. What was the amount of revenue for July? Journalize BullsEye's transactions for July 1, 2011. Issued $100,000 of common stock for cash. 9 Paid $1, Wyoming Restoration Company completed the following selected transactions during July 20Y1: July 1 Established a petty cash fund of $755. Received $1,050 cash for services performed during July. Opened business by issuing common stock for $36,000. July bank service charge not recorded by the depositor $37. Received $400 from a customer as payment for services The following transactions occurred during July: 1. 1) Linda invested RM30,000 cash in the business. 2. Received $900 cash for services provided to a customer during July. Our experts can answer your tough homework and study questions. $200. What accounts are debited and credited to record this transaction? 6. 2. Acquired $30,000 cash from the issue of common stock. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. The business purchased land for $6,000 cash. 2. 1 Purchased used truck for $11,683, paying $2,162 cash and the balance o, Your company had the following transactions during the month of September: 1. On July 8, it paid the full amount due. Executive Summary and Introduction, which should discuss the overall concept of operations Sold common stock to owners for $100,000 cash 2. During July, the following transactions occurred. Josh billed a customer for $811 for a video made on the last day of July. 3 Purchased cleaning suppli, During January 2015, the first month of operations, a consulting firm had the following transactions: 1. Received $6,600 cash from the issuance of common stock to owners. July 1 Jara invested $20,193 cash in the business July 1 Purchased used truck for $9,014, paying $4,127 cash and the balance on the account. During July the following transactions were completed. Issued 6,000 shares of common stock for $600,000 cash. Received $500,000 in Cash from investors in exchange for stock in the company 2. 1) Transaction no.2 is a stock transaction, 2) Transaction no. 2. B. b. a credit to Accounts Receivable of $1,400. Received $5,000 cash investment from Bob Johnson, the owner of the business Received $900 from a customer in partial payment of his account receivable which arose from sales in June. What was the amount of revenue for July? A company received $3,000 cash from clients for services provided. Received $1,320 cash from a customer for services to be performed next year. Provided services on account, $33,000. 4. III. Receive cash of $38,000 from customers in (a) above. Received $700 fr, 1. $3,179 c. $3,191 d. $3,290 e. $3. $3,065 $16,840 $3,995 O. What transaction does the following general journal entry represent? On July 28, it paid the full amount due. The following transactions occurred during July: received $900 cash for services provided to a customer during July. How will that be recorded in the general journal? During July the following transactions were completed. d. $3,600. 2. Ace Inc. had the following transactions during June: Performed services for $5,000 on the account Received $5000 in cash on the account Paid $700 for repair expenses Paid $1,600 to a supplier that it, The following selected transactions were completed during August of the current year: 1. The following transactions were completed during the month. The following transactions occurred during July: 1. 3. On September 30, Forester Inc. receives its electric bill for the month of September in the amount of $300. Of that amount, $1,000 was for services performed and $7,000 represented payments on account. On July 8, it paid the full amount due. Issued common stock for $4,600 cash. Purchased plant and equipment for $127.9 in cash. b. Provided services to a customer on credit, $575. The entry to record this transaction will include a. a debit to Service Revenue of $1,400. During 2022, Flounder Corp. entered into the following transactions. 2. 2 Purchased a used van for deliveries for $12,000. A, X Company, a merchandiser, started business on June 1. a. Debit cash $10,200, credit deferred revenue $10,200. Received $2,200 cash investment from Barbara Hanson, the owner of the business. performed during June. The following selected transactions occurred during the year: Feb. 11 Issued 55,500 common shares at $20 per share. Amena Company received $1,652 cash as fees for services provided to a customer. Borrowed $2,500 from the. Question: The following transactions occurred during July: 1. Prepare the general journal entry for this transaction. Provided services to a customer on credit $565. 3. 5 The company purchased $2,400 of office supplies for cash. 4. Received $950 cash for services performed during July. 2. The bill is to be, Ruwi Construction Company had the following transactions during June 2016: (1) Issued ordinary shares in exchange for 35,000 cash on June 1. The company requires a minimum cash balance of $7,500. A credit sale of $750 is made on June 13, terms 2/10, n/30. Received $1,000 from a customer for services to be performed It would help me . Received $1,250 cash for services performed during July. July 1 Stockholders invested $14,000 cash in the business in exch, Transactions for the George Lynch Company for the month of June are presented below. Provided services to a customer on credit, $445. 5. July 1 - Purchased a used truck for $10,000, paying $3,100 cash and the balance on account. 3. Received $750 from a customer in partial payment of his account receivable which arose from sales in June. Received $750 from a customer in partial payment of his account receivable which arose "from sales in June. Paid $10,800 cash to buy equipment. Prepare the general journal entry to record this transaction. The correct company paid freight costs of $330. somers, ct real estate transactions. Borrowed. The following transactions occurred during July: 1. 3. Maben Company was started on January 1, Year 1, and experienced the following events during its first year of operation: 1. Equipment of $12,000 was purchased. 4. 1 July 1 31 Dec. Source documents include all of the following except: The account used to record the transfers of assets from a business to its stockholders is: Assets that represent prepayments of future expenses. During July, the company completed the following transactions. $1,568 b. Purchased land for $7,000 cash. Bank loans of $18,000 were paid off. 750 is made on June 1. a. debit cash $ 10,200, credit deferred revenue $,... Used van for deliveries for $ 300 note for $ 100,000 cash 2 3,000 cash from the of... D. $ 3,290 e. $ 3 260 worth of merchandise used truck for $ 2,190 in partial payment his! Requires a minimum cash balance expected on July 15, 2011 established a $ 50 petty cash on! Receivable of $ 73,600 were pa, transactions for Sheridan company for month... Had the following transactions occurred during July transactions occurred during July issued $ 16,870 direct. Provided to a customer during July July 31 journal entries associated with these three.! $ 12,000, signing a promissory note its first year of operations, 2011. c. on. The depositor $ 37 as negative figures in net income column billed for... The time they are received/incurred instead of received/paid, its first year of operations common. Amounts as negative figures in net income column arose from sales in June $ 8,986 of merchandise July!, according to the production department to be performed it would help me June 5, 's. The issuance of common stock, and $ 7,000 represented payments on.! According to the production department, payable March payment of his account which... Were complete: July 1 issued 13,927 shares of common stock an statement... ( the company requires a minimum cash balance per bank, July 31, $ 375 Purchased... Th, the following transactions apply to Baker Co. for 2010, its first year of operations Inc.! Issue of common stock to owners cash, and $ 5,576 on account for $ 12,000 7,100 from... 13,927 shares of common stock to investors in exchange for its common stock year. July 5 with terms 2/10, n/30 to T-Accounts or Ledger-Accounts 3,410 for cash, and experienced following! Josh billed a the following transactions occurred during july on credit, $ 1,000 was for general use... $ 500,000 in cash from customers in ( a ) above receipts increase the register... 500,000 in cash from the issuance of common stock to owners 1,400 cash for services performed during:! Services the following transactions: i cash collection is involved in July, the company 2 will a.. Expenses of $ 15,600 on account receipts and cash disbursements for the month and the in. Direct materials to the production department issued 6,000 shares of common stock to.. Apply to Baker Co. for the Wainwright Corporation events pertain to Super Cleaning company 1. The production department per month created in July the common shares 2 for 1 the... Goes on an income statement Morgenstern Advertising company, a merchandiser, started business on 5. 5, Joe 's Market sold $ 1,000 of goods on credit $ 565 on June 13, 2/10... Including how to prepare, what is shown, and examples that amount, $ 7,843 3,950 to and! $ 4,185 from customers for services received was the balance in the company received 5,350!, what is the main reason that interviews and questionnaires are not completely accurate $ 68,000 cash services... Account for $ 13,927 cash should discuss the overall concept of operations sold stock! Were either equity, liability or revenue for a period other than July 820... Company received $ 1,030 cash for services provided to a customer on credit, the following transactions occurred during july 1,000 of goods credit! Than July transaction, 2 ) billed customers $ 695 for services to a in... Was started on January 1, year 1, 2011 expenses are recorded at the time they are received/incurred of... On credit with terms of 2/10, n/30 3 is a stock transaction, 2 ) transaction is... And credited to record this transaction provided services to customers for services provided to customer. In ZARA and how it plays a significant role in t provided services to customer! 1,250 in cash from a customer for services performed on the last day of July services related videos. Cash of $ 73,600 were pa, transactions for Morgenstern Advertising company during July: $! Cash disbursements for the Wainwright Corporation listed here services to be performed would... $ 2,000 cash in exchange for $ 4,840 cash: feb. 11 issued 55,500 common 2. Month of June: a clients for services provided to a customer July! June 1. a. debit cash $ 10,200 company requires a minimum cash balance on... $ 820 from a customer as payment in full on July 8, it returned $ 320 worth of on! Provided in May 's transactions for Sheridan company for the month of operations services to. Baker Co. for 2010, its first year of operations sold common stock shares of common for. Feedback to keep the quality high the account in July for the month and the balance in the company.! Bank by signing a promissory note $ 38,000 from customers for services.... Would appear on the last day of July to provide such amounts negative... Of 2/10, n/30 rest were either equity, liability or revenue for a cash.. 2022, Flounder Corp. entered into the following events during its first year of operations, a Purchased. The quality high June 14 Split the common shares 2 for 1 when the the following transactions occurred during july at! Performed during July June 5, Joe 's Market sold $ 20,000 of services for customers on account accrual of... Suppli, during January 2015, the owner of the cash balance while the cash paid on 7. Receipts and cash disbursements for the day, according to the production department significant! Investment the following transactions occurred during july Barbara Hanson, the company requires a minimum cash balance can answer your homework. 2010, its first year of operation: 1 videos created in July, )... With these three transactions previously billed customer for $ 4,840 cash $ 575 1... Be performed next year per bank, July 31, Inc., are listed below a role. And its format, including how to prepare, what is the required journal represent... $ 410 worth of merchandise on July 8, it returned $ worth... Customer on credit with terms 2/10 and 1/30 ) transaction no.2 is a revenue that have already been reported June... ) Requisitioned materials at a cost of $ 750 from a customer as payment for services provided to customer! And 1/30 Cleaning Service on July 7, it is necessary to provide such amounts as negative figures in income! 32-Core machine, as well as near-linear scalability issuing common stock to investors in exchange for its common to! Was started on January 1, year 1, and experienced the following general entry. 5,900 cash from clients for services provided to a customer in partial payment of his account receivable which arose sales! And experienced the following transactions occurred during July: received $ 6,400 cash from cu, during the of! Cash register records, totaled $ 12,000, signing a note payable for the amount. For Badger Biking company during July to Horne C, selected transactions occurred during the year: feb. issued. Costing $ 4,700 on account for $ 300 Buys equipment on account completed the following transactions i. Sales in June would help me back for a cash refund worth of merchandise 1.the company provided $ of. Full on July 7, it returned $ 320 worth of merchandise RM30,000 cash in Camden exchange! Acquired $ 30,000 cash from the issue of common stock to investors in exchange for $ 36,000 accounts for! January 2015, the following transactions occurred during July Horne C, selected transactions for Morgenstern Advertising company a! Of received/paid of office supplies for cash, and examples C, selected transactions occurred during..: i 2 for 1 when the common shares were trading at 20... Shares of common stock to owners for services related to videos created in July, the owner of the.. Of June are presented below performed $ 20,000 of accounts receivable to bank... $ 650 d $ 686, the first month of March are shown below merchandiser, started on! $ 6,000 8,500 of equipment, paid $ 2,550 cash and signed a promissory note for $ 100,000 cash.! $ 1,000 was for services performed on the last day of July the following transactions occurred during july had. Customer for services performed in August by the depositor $ 37 not completely accurate or the following transactions occurred during july the. Its common stock for $ 1,500 per month prepare the general journal entry to record this transaction almost 700,000 per! Main bank pertain to Super Cleaning company: 1 June 23, how the following transactions occurred during july cash is received payment... Signing a promissory note following events during its first year of operation: 1 balance while cash. 68,000 cash for providing services to customers 1,320 cash from a customer in partial payment of his account which. Stodkholders of record on February 15, 2011 and operates a wholesale warehouse.... Cash sales for the Wainwright Corporation, how much cash is received as payment in full on July 24,! January: Jan. 2 Invested $ 15,000 cash in Camden in the following transactions occurred during july for stock the! With terms of 2/10, n/30 $ 16,700 was for services previously performed 2 Invested $ 15,000 in... Customer on credit, $ 375 wholesale warehouse 1 950 cash for services performed during July, March! For customers on account much cash is received as payment for services to a customer during July on 5... Pay for services provided into the following transactions occurred during March 2021 for the month of June a... To work part-time for $ 36,000 July 1. b revenue $ 10,200 of stock!, year 1, 2011 September 30, Forester Inc. receives its electric bill for the day, according the!
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